BMO Capital Markets Lowers Boralex (TSE:BLX) Price Target to C$45.00

Boralex (TSE:BLX - Free Report) had its price objective decreased by BMO Capital Markets from C$46.00 to C$45.00 in a research note released on Friday morning,BayStreet.CA reports.

Several other brokerages have also weighed in on BLX. Cormark upped their target price on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Raymond James upped their price target on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Cibc World Mkts raised Boralex to a "strong-buy" rating in a report on Monday, July 22nd. CIBC lowered their target price on Boralex from C$43.00 to C$42.00 in a report on Friday. Finally, Royal Bank of Canada raised their price target on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$43.38.

Boralex Price Performance

TSE:BLX traded down C$1.07 during trading hours on Friday, hitting C$31.80. The company's stock had a trading volume of 329,800 shares, compared to its average volume of 258,610. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The business's 50-day moving average is C$34.16 and its two-hundred day moving average is C$33.14. The company has a market capitalization of C$3.27 billion, a PE ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.04 by C$0.06. Boralex had a net margin of 9.91% and a return on equity of 6.69%. The business had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million. As a group, research analysts anticipate that Boralex will post 1.3383764 EPS for the current fiscal year.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.